1292 replies to this topic

[K Wave]

AGQ getting slaughtered....still thinking 3 handle buying opp not out of the realm of possibility...

[K Wave]

PL absolutely collapsing since it failed to hold the breakout over hourly 900....

 

may see mid 800's...

[senorBS]

AGQ getting slaughtered....still thinking 3 handle buying opp not out of the realm of possibility...

agree, if that was a wave B rally in the NYSE index wave C goes below the March low, and given the political/Covid/Supreme court climate frankly that would not surprise me at all, very happy to be 100% cash

 

Senor

[linrom1]

 

I think this is a buy. This corrective triangle ABCDE is a terminal formation, that means that there is no leg B and C. The wave should be finished. We should go up?

[K Wave]

This 4 hour look at SLV gives an idea of the relative size of this move today...it is MASSIVE

 

If this goes out anywhere near the lows, going to be hard to look at this as anything other than a massive breakdown..

 

Hopefully it will hold support areas on the way down, and turn out to be the last shakeout before bull begins in earnest.

 

So far, I believe the breakout in July was the real deal, but the back test of that massive pivot zone must now be successful.

 

And of course any move back above 25 now would likely mean the shakeout is over...

 

[dharma]

this is all part of the buy and hold strategy.  i am waiting to deploy funds. watching my #s for support and watching the charts for the same. 

dharma

[K Wave]

The stunning weakness in the Platinum EFT since the rally failure is possible cause for concern....

 

Will be watching this over coming days....ideally it does not go back below 80 by much....if it does, will start to look a bit too much like February Deja Vu

 

Edited by K Wave, 21 September 2020 - 10:34 AM.

[K Wave]

this is all part of the buy and hold strategy.  i am waiting to deploy funds. watching my #s for support and watching the charts for the same. 

dharma

So since GC did not manage to hold the 1954 level, how does this affect your view of the shorter term?

 

Do you have any downside targets generated from the failure?

Edited by K Wave, 21 September 2020 - 10:32 AM.

[senorBS]

this is all part of the buy and hold strategy.  i am waiting to deploy funds. watching my #s for support and watching the charts for the same. 

dharma

I guess, but for me when there could easily be 20-40% miner downside if we see something close to a March general mkt decline (which I think is a decent possibility). GDX almost halved itself from its Feb high (31.84 to 16.18), not sayin at all we will have that much, but a 20-25% drop is not at all far fetched IMO. Frankly for me I am unwilling to sit through that significant of a decline, and some of the more speculative stocks that have seen huge runs would likely see steeper declines. With these markets and this volatility I am a trader, not willing to give up the big gains I have had. Just my take

 

Senor

[K Wave]

 

this is all part of the buy and hold strategy.  i am waiting to deploy funds. watching my #s for support and watching the charts for the same. 

dharma

I guess, but for me when there could easily be 20-40% miner downside if we see something close to a March general mkt decline (which I think is a decent possibility). GDX almost halved itself from its Feb high (31.84 to 16.18), not sayin at all we will have that much, but a 20-25% drop is not at all far fetched IMO. Frankly for me I am unwilling to sit through that significant of a decline, and some of the more speculative stocks that have seen huge runs would likely see steeper declines. With these markets and this volatility I am a trader, not willing to give up the big gains I have had. Just my take

 

Senor

 

 

Often times, at the very beginning of a bull run, after a huge breakout of long term resistance, the will be a sharp correction back towards the breakout point, before it is really time for buy and hold.

Hopefully that is what we are about to see now on Silver.....the last great buy opp before things get started in earnest over the coming years.

Edited by K Wave, 21 September 2020 - 10:49 AM.